Deutsche Bank AG Sells 144,467 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Deutsche Bank AG lowered its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,379 shares of the company's stock after selling 144,467 shares during the quarter. Deutsche Bank AG owned approximately 0.47% of Terns Pharmaceuticals worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Crestline Management LP acquired a new stake in Terns Pharmaceuticals during the fourth quarter valued at approximately $369,000. Bank of America Corp DE raised its position in shares of Terns Pharmaceuticals by 236.8% during the 4th quarter. Bank of America Corp DE now owns 197,226 shares of the company's stock valued at $1,093,000 after acquiring an additional 138,661 shares in the last quarter. Bellevue Group AG raised its position in shares of Terns Pharmaceuticals by 1.9% during the 4th quarter. Bellevue Group AG now owns 1,061,753 shares of the company's stock valued at $5,882,000 after acquiring an additional 19,618 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Terns Pharmaceuticals during the fourth quarter worth $1,242,000. Finally, Acorn Capital Advisors LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $10,921,000. Institutional investors own 98.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TERN shares. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. JMP Securities restated a "market outperform" rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Finally, BMO Capital Markets cut their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.63.

Terns Pharmaceuticals Stock Performance

TERN traded down $0.01 during trading on Tuesday, reaching $3.02. The company had a trading volume of 328,370 shares, compared to its average volume of 1,530,788. The firm's 50-day simple moving average is $2.80 and its 200 day simple moving average is $4.27. The company has a market cap of $263.32 million, a price-to-earnings ratio of -2.56 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. On average, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.